H.R. 6390 would amend the Internal Revenue Code of 1986 to provide a credit against tax for certain caregivers, to expand the dependent care credit, and to increase the exclusion limitation for dependent care assistance programs.
Detailed Summary
Caregiver Financial Relief Act of 2008 - Amends the Internal Revenue Code to: (1) allow caregivers of family members with long-term care needs a refundable tax credit of $3,000 for up to two such family members each year through 2010; (2) allow in 2009 and 2010 the tax credit for dependent care expenses for parents (or ancestors of such parents) who do not reside with the taxpayer; and (3) allow in 2009 and 2010 an increased exclusion from gross income for employer-provided dependent care assistance.
Status of the Legislation
Latest Major Action: 6/26/2008: Referred to House committee. Status: Referred to the House Committee on Ways and Means.
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